Press Release Summary = China, to sustain its economic development, is embracing nuclear power. The country has plans to install nuclear power plants to raise the share of nuclear energy through 2020.
Press Release Body = To ensure energy supply diversity, China has set an aim to cut reliance on oil and gas that will offer vast opportunities for renewables. Although conventional sources of energy made up for 74% of combined electricity generation in 2004, hydropower and nuclear energy are fast becoming visible in the energy sector, according to a recent report “China Energy Sector Analysis” by RNCOS.
The graph of China’s economy is not showing any signs of decline, and growth is expected to become fourfold in the initial two decades of this century. To drive and sustain its development spree, the country will need a mix of clean and low-cost energy resources. And nuclear power is one alternative source of energy being investigated by the government of China.
Nuclear power plants fulfill around 16.7% of the global electricity needs. According to some estimates, China will consume around 16% of the world’s energy by 2020, and will have the highest requirement of nuclear power.
Most of the nuclear power plants in operation or under-construction in China belong to second-generation technology. All new plants, except a few, to be commissioned before 2020 end are anticipated to be second-generation reactors or an advanced version of second-generation technology.
However, due to de facto sanctions against China, nuclear power plants of US are being deprived of access to this evolving market. So China is now depending on French and Russian power plants to build its nuclear power base. This is inspite of the fact that the safety and reliability of these organizations is ambiguous. US plants are recognized internationally for providing clean, safe, and cheap energy, but the existing trade barriers between China and US are restricting China to use States’ resources in constructing its energy baseload.
According to RNCOS report “China Energy Sector Analysis”, China is building its nuclear power plants actively with the target to construct nearly 29 Gigawatt of nuclear plants through 2020. This shows that China needs to install two nuclear plants every year. But even with this rate, nuclear power will form just around 1.89% of the total energy consumption of China.
The market research report puts forth the landscape of renewables’ consumption in China. It highlights the various driving forces, opportunities, and challenges persisting in the country. The report presents the demand and supply picture in detail alongwith the future outlook (till 2011) and key players.
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RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today\'s globally competitive environment.
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2022
